Thursday, October 22, 2009

7,000 Americans a day losing their lifeline

From CNN (a real news source)

7,000 Americans a day losing their lifeline

NEW YORK (CNNMoney.com) -- Another day, another 7,000 people run out of unemployment benefits.

One month after the House passed a bill extending unemployment benefits, the issue is still being debated in the Senate.

Democratic leaders in the Senate introduced a bill two weeks ago to lengthen benefits in all states by 14 weeks. Those that live in states with unemployment greater than 8.5% would receive an additional six weeks.

Senate Republicans, who twice objected to swift passage of the bill by unanimous consent, want to add several amendments. Their requests include paying for the increased benefits with stimulus funds rather than by extending a longstanding federal unemployment tax through June 2011

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And that is what happens when the "stimulus" contains handouts and not incentives. We can't keep spending money to extend the safety net indefinitely, at some point we need to incentivize growth and not sustain the safety net.



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